If you compare the increase in value of investment property in Richmond, 3121 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -8.66%.
Taking the average capital gain, or increase in median house value, Richmond,3121 has racked up an average of -8.66% over the period. This ranks it number 2017th in the whole country for real estate investors looking at median house price increases.
State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.90% offered to property buyers. Sellers in Richmond itself are offering an average vendor discount of -5.03% to real estate investors.
On average over the past year, suburb has had 18.83 sales per month, which equates to 226 per year.
A $690 per week rent on the median house gives suburb investors a gross yield of circa 3.09%, without taking into account capital value appreciation, which has been averaging out at 5.90%.
Richmond, 3121 ranked 102th in VIC when comparing growth in median property values or capital gain over the last 12 months. Richmond is one of 2099 in our list for VIC
A 6.31% growth in median value for property investors in Richmond,3121 puts this suburb at number 262th in terms of best performing suburbs in VIC
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Richmond, 3121. Typically our figures indicate that -6.05% is being offered, which puts this VIC suburb at 616th most discounted overall in Australia.
In the last year 244 properties changed hands in Richmond, which puts it as the 7th most active market in VIC when comparing the number of sales per suburb.